ARPIT IMPEX PRIVATE LIMITED Vs. ARUNODAYA PLANTATIONS LTD.

JUDGEMENT

(1.) This is an application under Chapter XXIIA of the Original Side Rules of this Court for pronouncing final judgment. The fact in the affidavit in support of the Master's Summons is summarised as hereunder:

(2.) The plaintiff lent a substantial amount as inter-corporate loan, which has not been paid. One point of time parties struck to settlement for repayment. The settlement was that the defendant should pay a sum of Rs. 11,00,000.00 and the plaintiff will accept as full time settlement. Apart from the aforesaid amount parties agreed that the defendant should pay further sum of Rs. 44,476/- as and by way of interest for the period from 1st April, 2001 to 12th July, 2001. The aforesaid interest amount was calculated after deducting a sum of Rs. 11,398.00 towards tax deduction at source. Pursuant to the aforesaid settlement and acting thereupon the defendant issued a cheque of Rs. 11 lacs. However, the said cheque was dishonoured by non payment. Therefore, the plaintiff sues the defendant for recovery of the entire amount of loan in view of settlement being fallen through.

(3.) I understand from the plaint and the affidavit in support of the Master's Summons that the suit is based not only on the basis of the agreement for repayment of the loan but on the ground of dishonour of the aforesaid cheque.